Petsec Energy hits gas

Petsec Energy has drilled a gas discovery with well No. 1 in Viosca Knoll bock 26, marking its fifth successive discovery in the Mobile Bay region in the Gulf of Mexico within the last six months.

Offshore staff

SYDNEY, Australia --Petsec Energy has drilled a gas discovery with well No. 1 in Viosca Knoll bock 26, marking its fifth successive discovery in the Mobile Bay region in the Gulf of Mexico within the last six months.

According to Petsec, the discovery well, drilled to 1,402 m (4,627 ft) MD in 29 m (97 ft) of water, encountered 6.1 m (20 ft) of net gas pay. First production is expected in the third quarter.

The company plans to drill a second well next week from the same location targeting a zone in Mobile Bay block 994.

3/16/2007

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